The two founders of DeFiChain (DFI) and the crypto company behind it, Cake, Julian Hosp and U-Zyn Chua, are fighting bitterly all the way to court. A new date has now been set for April 12.
Anyone following the drama surrounding DeFiChain (DFI), Cake, Julian Hosp and U-Zyn Chua will already have guessed that there will be a showdown. This is because the two Cake founders Julian Hosp and U-Zyn Chua fell out hopelessly last December at the latest. At the time, Chua filed a motion in court in Singapore to liquidate Cake. Hosp, in turn, surprisingly pulled an offer out of his sleeve to sell his shares in Cake to U-Zyn Chua before a ruling. Meanwhile, the price curve of DeFiChain (DFI) has plummeted ever lower – after all, Cake is the crypto company behind it and Julian Hosp is the figurehead. The parties to the dispute were supposed to present their case to the court this week to see if they had found an amicable solution after all. Now the date has been postponed to April 12, as the critical observer Lorena B. makes public on X.
The situation at Cake (formerly Bake) is critical and the mood is in the cellar. The well-connected Lorena B. has leaked internal chat logs from the crypto company in which employees worry about the future, while Julian Hosp and U-Zyn Chua take refuge in empty phrases. Cake’s office space has been put up for sublease and it remains to be seen whether DeFiChain will continue to be supported. Hosp is looking for new tenants for his villa in Singapore, but is officially still CEO of Cake. U-Zyn Chua was Cake’s Chief Technology Officer and did not immediately reject the offer to continue running Cake on his own. He has now sent a request via X to attend the court hearing on April 12 “to learn the truth”. A prior agreement between him and Julian Hosp thus appears to be off the table.
The developments are bitter for investors. DeFiChain is losing external projects and DFI is trading 85 percent lower than a year ago. The ecosystem also includes the alleged stablecoin DUSD, which has lost its promised 1:1 peg to the US dollar for almost two years. Julian Hosp, in particular, had repeatedly used his high-reach channels on social networks to urge people not to panic, but to get the projects back on track.
Conclusion: Julian Hosp’s fans get a nasty surprise with DeFiChain
The supporters of DeFiChain and Julian Hosp like to call themselves DeFighters and some of them still don’t want to realize how their investments are virtually disappearing into thin air. The crypto scene automatically associates the name Julian Hosp with the TenX project, which ended in total losses for many investors. It has also long been known that Julian Hosp previously perfected his sales talents with the Lyoness pyramid scheme. In the end, however, the projects in which Julian Hosp played a decisive role always ended in disputes at management level – so this scenario is repeating itself with Cake and DeFiChain. A court ruling on April 12 is drawing ever closer and everything points to normal investors being the losers in any case.
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